CAPIS Morning Note – 1/02/25: Futures Higher As We Start 2025

Overnight Summary & Early Morning Trading: The S&P 500 closed Tuesday lower by -0.43% at 5881.63. Monday lower by -1.07% to 5906.94. The overnight high was hit at 5989.75 at 7:05 a.m. EDT and the low was hit at 5910.75 at 7:15 p.m. EDT. The overnight range is 79 points. The current price is higher […]

Overnight Summary & Early Morning Trading: The S&P 500 closed Tuesday lower by -0.43% at 5881.63. Monday lower by -1.07% to 5906.94. The overnight high was hit at 5989.75 at 7:05 a.m. EDT and the low was hit at 5910.75 at 7:15 p.m. EDT. The overnight range is 79 points. The current price is higher at 7:05 a.m higher by +0.87% up by +51.7520 at 5987.50.

Executive Summary: Last Tuesday started the Santa Claus Rally that lasts from the Tuesday before Christmas through the first two trading days of January, this Friday. So far we are down -0.83% with two trading days left. With Futures this morning, we are back to flat.

Article of Note: “Terror Strikes New Orleans” by Wall Street Journal Editorial Board.

Key Events of Note Today:

- Construction Spending, Jobless Claims and Crude Oil Inventories will be released this morning. Natural Gas Inventories will be released tomorrow morning due to the shortened week.

Daily Chart Request: Want to see an Erlanger Chart in The Morning Note? Simply send an email to us at [email protected] and we will more than likely show it.

Advanced Autoparts (AAP) is a now a Short Squeeze. The Tech Rank has risen to 100%. Short Intensity is 73% with the Erlanger Short Ratio at 4.83. We like this name as buyers looking to buy last year’s dogs might look here.

Notable Earnings Out After The Close

Beats: None of note.
Flat: None of note.
Misses: None of note.

Capital Raises:

IPOs For The Week:
New IPOs/SPACs launched/News: None of note.
IPOs Filed/Priced: None of note. Secondaries Filed or Priced:
Notes Priced:
Direct Offering: None of note.
Exchangeable Subordinate Voting Shares: None of note.
Selling Shareholders of note:
Mixed Shelf Offerings:
- LASE: FORM S-1 – Mixed Shelf Offering
PIPE:
Convertible Offerings & Notes Filed:

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

Biggest Movers Up & Down After The Close:

Movers Up: None of note.
Movers Down: None of note.

News After The Close:

EQT Corp. (EQT) completes the sale of its remaining non-operated natural gas assets in PA; receives approximately $1.25 bln in cash proceeds, less closing adjustments .
10-K Delays: .

Exchange/Listing/Company Reorg and Personnel News:

Buybacks:

PLCE commences previously announced rights offering to purchase up to $90 mln of common shares

Dividends Announcements or News:

Stocks Ex Div Today: APD RSG O PWR RJF STT CAH EQR ESS ACM CPB NDSN CUBE FRT EHC INGR PEGA SSD CHH SFBS TNET ESE ABM WERN WWW ANDE DX.
Stocks Ex Div Tomorrow: CSCO AXP BMY ROP KDP SYY NTAP MORN ORI RGLD BRX CHX CUZ HLIO TWO.

What’s Happening This Morning: (as of 8:15 a.m. EDT) Futures S&P 500 +48, NASDAQ +215, Dow Jones +301 and Russell 2000 +23. Europe is higher ex France with Asia higher ex Japan. Bonds are at 4.52% unchanged from Tuesday on the 10-Year. Crude Oil and Brent are higher with Natural Gas higher as well. Natural Gas is up 16.17% today!! Gold and Silver are higher with Copper lower. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $96,713 from $94,571 higher by $2,155 up +2.28%.

Sector Action – (1/3/6/12/YTD Updated Weekly with Monday release):

Daily Positive Sectors: Energy, Real Estate, Materials and Healthcare were higher yesterday.
Daily Negative Sectors: Technology, Consumer Cyclical, Communication Services and Utilities were lower.
One Month Winners: Consumer Cyclicals, Financials, Industrials, Energy and Utilities of note.
Three Month Winners: Consumer Cyclicals, Financials, Communication Services, Industrials, Utilities, Consumer Defensive and Technology of note.
Six Month Winners: Financials, Real Estate, Utilities, Consumer Cyclical and Technology of note.
Twelve Month Winners: Financials, Technology, Industrials, Utilities and Communication Services note.
Year to Date Winners: Technology, Financials, Utilities, Communication Services and Industrials of note.

Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)

Thursday After the Close: RGP of note.

Friday Before The Open: None of note.

Notable Earnings of Note This Morning:

Beats: None of note.
Flat: None of note.
Misses: None of note.
Still to Report: None of note.

Company Earnings Guidance:

Positive Guidance: None of note.
Negative or Mixed Guidance: None of note.

Advance/Decline Daily Update: The A/D fell to major support, bounced and is now falling again.

Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):

Gap Up: NVA +15.7%, HCM +6.5%, KOS +4.4%, WULF +3.9%, CANG +3.4%, MPLN +2.9%, INSW +2.6% of note.
Gap Down: PDYN -5.5% of note.

Insider Action: None see Insider buying with dumb short selling. TTSH sees Insider buying with smart short sellers.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.

Lead Story on Bloomberg: New Orleans Attack, Las Vegas Attack Raise Security Fears. (Bloomberg)
Market Wrap: US Futures set for bounce after four day losing run. (Bloomberg)
5 Things To Know Before Market Opens. (CNBC)
Stocks Making The Biggest Moves NVDA SYNA UBER NCLH MODG NET RTX. (CNBC)
China wants to compete with Boeing (BA) and Airbus (EADSY) in airline market. (FT)
Barrons Stories of Note: + on NVDA CELH SLB EWY UBER MRNA BIIB REGN.
NYSE to close next Thursday, January 9th for Former President James Earl Carter’s state funeral in Washington D.C. (CNBC)

Economic:

November Construction Spending is due out at 10:00 a.m. EDT and expected to rise by 0.2% from 0.4%.
Weekly Jobless Claims are out at 8:30 a.m. EDT.
Weekly Crude Oil Inventories are out at 10:30 a.m. EDT.

Geopolitical: (Watch our Twitter feed, Bullet86, for any impromptu appearances)

President Biden and The First Lady return from Camp David to the White House.
President Biden delivers remarks on securing 235 judicial nominations at 2:00 p.m. EDT.
President Biden delivers remarks at a Presidential Citizens Medal Ceremony at 5:00 p.m. EDT.
No Fed Speakers today.

M&A Activity and News: None of note.

Moving Averages On Major Equity Indexes: Moves on Equities remain at 27%. Commodities look strong.

Meeting & Conferences of Note:

- Sellside Conferences:
- Fireside Chat: None of note.
- Top Analyst, Investor Meetings: VRTX

- Shareholder Meetings: ICLK
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event: None of note.
- Industry Meetings or Events:

Top Tier Sell-side Upgrades & Downgrades:

The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.

- - Upgrades: YWELL USB SPG RTX NET MODG MAC UBER NCLH IVT EVRG ELS EGP CUZ CBRE CACI
  - Downgrades: SOFI PEB HR CTRE BXP